The search for a new Alzheimer's treatment just hit another setback

An experimental drug to treat Alzheimer's disease just failed a late-stage trial.

VTV Therapeutics, a small company in North Carolina, was developing an Alzheimer's drug azeliragon to inhibit the RAGE receptor, ideally to help people with mild Alzheimer's delay cognitive decline.

Its phase 3 trial wrapped up in early 2018, but the treatment, when compared to placebo, "did not improve in cognitive or functional outcomes." The company is discontinuing its clinical trials.

"We will continue to analyze the datasets and trends within subgroups from both Part A and Part B to determine if there are potential benefits or future uses and applications for azeliragon," VTV CEO Steve Holcombe said in a news release Monday.